EV Drivers Can Now Use Crypto to Charge Their Cars and Earn Carbon Credits – Here’s How

cryptonews.com:

Blockchain technology is transforming the way electric vehicle (EV) users charge their cars. For the first time, EV users will soon be able to pay to charge their cars in crypto and earn carbon credits, thanks to a new crypto start-up called C+Charge.

C+Charge is building a peer-to-peer blockchain-based payment system with the aim of opening up the carbon credit reward market to the drivers of all EVs, such as Tesla. But C+Charge aims go beyond purely democratizing access to carbon credit rewards.

The start-up hopes its revolutionary platform can attract a wave of new EV buyers, attracted by the prospect of being financially rewarded for lowering their carbon footprint with an EV for the first time. That because, up until now, the massive carbon credit market, valued at $211.5 billion in 2019 by Coherent Market insights, has largely been dominated by big players.

But, as with so many other things, blockchain technology holds the promise of decentralizing and democratizing access to this market for individuals. Start-ups like C+Charge could be key drivers of growth in the voluntary credit market (VCM), which Bloomberg recently estimated could grow to $100 billion in size by 2030.

EV drivers will use the C+Charge application to pay to charge their vehicles. They will pay using C+Charge’s native cryptocurrency CCHG and will be rewarded with carbon credits in the form of Goodness Native Tokens (GNT), which will be stored in their account on the C+Charge app. GNT token represents a verified voluntary carbon credit and is backed by venture capital firms a16z Crypto and Samsung Next as well as fund manager Invesco.

The more EV owners charge and drive and the more CCHG they spend, the more GNT they will earn. CCHG also have an